French bank ordered to pay $510,000 to ex-trader Kerviel

June 7, 2016 1:54 PM

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PARIS – French bank Societe Generale has been ordered to pay about 450,000 euros ($510,000) to former trader Jerome Kerviel for unfair dismissal, after he was accused of unauthorized trades that caused the bank billions in losses.

Supporters of Kerviel hailed the decision Tuesday by a labor arbitration council, while Societe Generale called it "incomprehensible" and vowed to appeal.